HAMM IN RIGHT TAX JAM
Downing Street police don’t only climb into body armour, attach handcuffs, strap 9mm Glock 17 sidearms on and tool up with Heckler & Koch G36C submachine guns. They also carry pet treats Dreamies. For Larry, the No 10 cat. Shows just how fastidious Theresa May’s guardians are about both kit and kitty.
A fuel duty freeze is good for drivers, but makes a tax rise for drinkers more likely.
If you’re foolish enough to drink and drive I guess this kind of evens out.
Philip Hammond must get the £20billion promised to the NHS from somewhere and 7p on a bottle of still wine, 9p on sparkling and 2p on beer is now fave for his October 29 Budget.
The Chancellor was furious with Theresa May for limiting his options by taking petrol and diesel hikes off the table.
That move alone has lost him a mighty £800million in tax income. He’s also looking at cutting higher rate pensions tax relief, freezing income tax thresholds and slashing the level small firms pay VAT at from £85,000 to £43,000.
In addition he’ll need another £1billion now the PM has lifted the local authority borrowing cap for new homes.
So he might make the top tax rate bite at £125,000 instead of £150,000 a year.
Spreadsheet Phil’s fast finding his inner Jeremy Corbyn.